About Bankruptcy-RealEstate-Insights
Bankruptcy-RealEstate-Insights.com is published by Vicki R. Harding. She handles commercial transactions with an emphasis on real estate and bankruptcy issues, and has been listed in The Best Lawyers in America in both Real Estate Law and Bankruptcy and Creditor-Debtor Rights Law. The Bankruptcy-RealEstate-Insights.com blog explains the mysteries of bankruptcy law to real estate and acquisition lawyers. Understanding the treatment of real estate issues in bankruptcy and the unique aspects of buying assets out of bankruptcy can be invaluable in counseling clients and developing strategies.Subscribe Via RSS
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Category Archives: Real Estate
Default Interest: Is a Mortgagee Entitled to Collect the Contract Rate, or Must It Be Reasonable?
In re Haldes, 503 B.R. 441 (Bankr. N.D. Ill. 2013) – An oversecured mortgagee’s proof of claim included default interest for the period from the date of the bankruptcy filing through confirmation of a plan of reorganization. The debtor argued that … Continue reading
Posted in Financing, Real Estate
Tagged bankruptcy procedures, claim determination, financing
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Environmental Enforcement: Sometimes Bankruptcy Provides a Respite, and Sometimes It Doesn’t
In re Edison Mission Energy, 502 B.R. 830 (Bankr. N.D. Ill. 2013) – Pre-bankruptcy the Sierra Club filed a citizen suit complaint with the Illinois Pollution Control Board (IPCB) against a power company requesting penalties and an order requiring it to … Continue reading
Delinquent Property Tax Sales (Again): “Reasonably Equivalent Value” – No Way, No How
County of Clinton v. Warehouse at Van Buren Street, Inc., 492 B.R. 278 (N.D.N.Y. 2013) – A chapter 11 debtor sought to recover real estate that was transferred prepetition to the county following the debtor’s default in a property tax foreclosure proceeding. … Continue reading
Posted in Real Estate
Tagged avoidance action, fraudulent conveyance, property taxes
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Chapter 11 Claim: Nonrecourse + No Equity = Disallowed Claim… Or Maybe Not
In re B.R. Brookfield Commons No. 1 LLC, 735 F.3d 596 (7th Cir. 2013) – A chapter 11 debtor sought to disallow the claim of a second mortgagee that held a nonrecourse loan that was totally underwater (i.e., the property was worth … Continue reading
Mortgage “Strip Off” in Chapter 7: Dewsnup Fails to Prevail – Go Figure
McNeal v. GMAC Mortgage, LLC (In re McNeal), 735 F.3d 1263 (11th Cir. 2012) – A chapter 7 debtor sought to “strip off” the second mortgage lien on her home. The bankruptcy and district courts declined, and the debtor appealed to … Continue reading
Untimely Secured Proof of Claim: The Ghost of Dewsnup May Save the Day
Shelton v. Citimortgage, Inc. (In re Shelton), 735 F.3d 747 (8th Cir. 2013) – A secured creditor holding a mortgage on the residence of two chapter 13 debtors filed a proof of claim almost seven months after the claims bar date. The … Continue reading
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